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Volkswagen, Bosch reach diesel settlement worth $1.6 billion

Volkswagen Group of America and automotive parts maker Bosch reached a settlement in which the two companies will pay a combined $1.6 billion because of their roles in the automaker's diesel-emissions scandal. VW, Europe's largest automaker, will pay about $1.2 billion to either repair or buy back vehicles. Bosch said separately that it will pay more than $300 million to owners of diesel-powered Volkswagens, Audis, and Porsches. The settlement stems from emissions issues related to about 78,000 VW-made cars and SUVs with 3.0-liter V6 diesel engines that were sold in North America. VW will recall and repair about 58,000 vehicles made for the 2013-through-2016 model years. The company will also buy back, offer a trade-in credit, or terminate the leases for about 20,000 cars for the model years 2009 through 2012. The older impacted models are the Volkswagen Touareg and Audi Q7, while the newer ones are the Touareg and Q7 as well as Audi's A6, A7, A8, A8L, and Q5 models, and finally the Porsche Cayenne Diesel. Previous reports estimated the payout at closer to $1 billion. The US settlement follows one reached last year between VW and US regulators in regards to VW's 2.0-liter diesel engines. That settlement was estimated to cost VW about $15 billion and impacted owners of about 500,000 vehicles. VW has had a stop-sale on its diesel vehicles in the US since late 2015 after it was discovered that VW installed software in its diesels that allowed those vehicles to cheat emissions-testing systems. VW on Wednesday also reiterated that it would contribute $225 million towards environmental-remediation efforts in the US. Volkswagen of America CEO Hinrich J. Woebcken, in Wednesday's statement, said that "we will continue to work to earn back the trust of all our stakeholders and thank our customers and dealers for their continued patience as this process moves forward." Related Video: News Source: Volkswagen via Automotive News-sub.req.Image Credit: Shannon Stapleton / Reuters Government/Legal Green Audi Porsche Volkswagen AutoblogGreen Exclusive Emissions Diesel Vehicles vw diesel scandal scandal settlement

Volkswagen Group's Vision 2030 strategy could bring revolution to the brands

One would expect a corporate plan called "Vision 2030," looking 11 years ahead through wildly tumultuous times, to involve great change and numerous forks in numerous roads. According to Automobile's breakdown of Volkswagen's path forward, though, the plans contain some lurid potential surprises. The ultimate aim is return on investment, and that means ruthless reorganization of a conglomerate with eight primary car brands, two car sub-brands, and Ducati motorcycles. The first two Vision 2030 cornerstones Automobile mentions are near boilerplate: Production network restructuring, and "streamlining of key technologies." The latter two are the ones that could upend what we know as the Volkswagen Group: focusing on the Group's core brands — meaning Audi, Porsche, and VW — and transitioning to EVs, autonomy, and other mobility solutions. Based on the report, a quote from Audi's CTO referring to the Audi brand could cover how the Group plans to handle all of its brands: "We need to find a sustainable solution for the indefinite transition period until EVs eventually take over." The boutique divisions adjacent to carmaking, Ducati and Italdesign, look likely to be spun off. For the halo car brands — Bentley, Bugatti, and Lamborghini — apparently shareholders want double-digit returns on investment, and the trio doesn't have long to hit the target. One eyebrow raiser is when the report states, "Bugatti is tipped to be gifted to [ex-VW Group Chairman] Ferdinand Piech." Piech fathered the Veyron during his tenure at VW, and it was thought he commissioned the La Voiture Noire, but he's lately stepped so far back from VW that he sold all his shares in the Group. Automobile quoted a senior strategist as saying of money-losing Bentley, "Why invest on a backward-looking enterprise when you can support a trendsetter? A proud history and excellent craftmanship alone don't cut it anymore." We guess no one at Ferrari, McLaren, or even Porsche got that memo. Bentley is reportedly close to being put in time out, and if brand CEO Adrian Hallmark can't right the Crewe ship, the hush-hush Plan B is to prop the Flying B up enough to lure a buyer. As for Lamborghini, caught between two masters at Audi and Porsche, even record-breaking numbers at the Italian supercar maker barely staved off sacrilege. It's said that VW brand CEO Herbert Diess considered putting a 5.0-liter Porsche V8 into the Aventador successor.

Techart tastefully tunes Porsche 911, Cayenne

German tuning haus Techart is making a big showing at the 2016 Geneva Motor Show, introducing modified versions of a number of Porsche products. At the fore, we have the new, all-turbo 911 range. Techart has turned its hand to both the turbocharged 911 and the new 911 Turbo (this will get less confusing, right?) with a range of upgrades covering performance and aesthetics. Techart has boosted the Carrera S from 420 horsepower and 368 pound-feet of torque to 460 ponies and 413 lb-ft of torque. The Turbo S gets a bigger boost, going from 580 hp and 553 lb-ft of torque to 640 hp and 649 lb-ft. It's not clear how Techart has made these gains, aside from the company's "Techtronic" engine management. Surprisingly for an aftermarket tuner at Geneva, Techart's exterior treatments are downright tasteful. There are new front and rear clips and a selection of rear wings, helpfully called Rear Wing I and Rear Wing II, while the diffusers and side skirts are also swapped out. We also dig the center-exit exhaust and its four meaty tips. On the opposite end of the equation, Techart is also modding the Cayenne range. The new Magnum Sport treatment can be applied to the base diesel-powered Cayenne and Cayenne S, the gas-powered GTS, and the Turbo with varying degrees of performance, but it's the force-induced Cayenne we're most interested. In its most potent form, the turbocharged V8 can be boosted from 520 hp and 553 lb-ft of torque to 700 hp and 678 lb-ft. At this level of performance, the Cayenne's sprint falls from 4.4 seconds to just 4.1. That ties the stock Cayenne Turbo S, but it's worth noting the Magnum Sport will do 183 miles per hour to the factory model's 176. Like the 911, there's a slew of aesthetic upgrades regardless of which Cayenne your Magnum is based on. The full body kit isn't as tasteful as the 911. The overall look is far more aggressive and dare we say aftermarket, with plenty of carbon-fiber accents, a very low ride and a serious wide-body look. In particular, the new front and rear fascia present a much more imposing appearance. There's also a carbon-fiber hood, because the aftermarket. We've snapped Techart's modified Cayenne and 911 on the floor of the 2016 Geneva Motor Show. And if you scroll down, there's also the official galleries and press releases for both models. Have a look, and register your opinion in Comments. Related Video: TECHART Personalization for the new Porsche 911 models.